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Estee Eyes Puig Deal
Description
Estée Lauder confirmed it is in talks to acquire Spanish beauty group Puig in a cash-and-stock deal, potentially combining a $30B+ company with Puig's ~$10B market cap. Puig went public in 2024 but has underperformed amid weak fragrance demand as Estée Lauder pursues a multiyear turnaround.
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